India Inc bids adieu to 2023 on an optimistic note

Sunil Agarwal, Director, Vinod Cookware:

“Cooking is an ever-evolving art, constantly improving with new ingredients, recipes, and cookware. In 2023, we've embraced transformation in how we approach the culinary world. As we stride into the future, we're also witnessing a surge in demand for eco-friendly and sustainable kitchen solutions. Recognizing this shift, our commitment to offering products that balance innovation with environmental responsibility remains unwavering. Smart kitchen technology is another arena that's shaping the landscape. We have incorporated smart features into our designs to make cooking not just convenient but also an immersive and enjoyable experience.

This year marked the introduction of our Zest Ceramica Collection, Vinod Connect, and Aluminum Die Cast Range, revolutionizing the modern Indian kitchenware industry. Apart from catering to the needs of our consumers we also ventured into the B2B sector with the launch of our Vinod Horeca Range to cater to the needs of hotels and cloud kitchens. Strategic partnerships with Sony’s Masterchef India and KBC showcase our dedication to impactful collaborations. In line with the booming global kitchenware industry, projected to reach $37.23 billion by 2027, we also expanded our reach with the launch of Vinod Cookware's UK website, bringing our quality products to the UK and EU markets. As we navigate this era of change, 2023 underscores the importance of adaptability in today’s world be it at your workplaces, homes, and kitchens.”

Katsuhisa Asari, Managing Director, Konica Minolta India:

“2023 was a testament to the print industry's resilience and adaptability in striking innovation, particularly in the realm of digital printing. Digital printing has become the preferred choice for many businesses due to its cost-effectiveness, versatility, and quicker turnaround times. The digital printing segment is projected to grow at an impressive rate of 6.7% annually, cementing its place as a dominant force in the industry.

As an industry leader, we reached out to an untapped clientele in the hinterland of the country, across tier 2, 3, and 4 cities, with the latest tech in production printing and digital printing tech, empowering Indian businesses to successfully shape the future of the Indian Printing Industry, which is expected to reach a market size of to 279 billion rupees by 2025. By leveraging its strengths in intangible assets, Konica Minolta also seeks to create customer value through co-creation with customers.”

Angad Singh Manchanda, Co-founder and CEO, Chimp&zInc:

“Marking a dynamic shift in marketing trends, 2023 has witnessed a complete transformation in the digital marketing front. With much anticipated augmented reality and social commerce to purpose-driven content, the industry has undergone a holistic revamp. Authentic storytelling has rightfully claimed the spotlight, placing a strong emphasis on forging genuine emotional connections with consumers. The fusion of personalization and technology emerged as a game-changer, reshaping our online experiences. Adding to our learning journey were new trends like Generative AI, Machine Learning, Customer Data Platforms, and Voice Search. Artificial Intelligence (AI) strategies gained substantial momentum, enhancing the intelligence behind digital experiences.

Privacy rules became a prominent point of discussion showing the industry's dedication to responsible practices. CGI trends, including Augmented and Virtual Reality, alongside the widely embraced generative AI, prominently graced the stage. Each of these trends ignited curiosity among marketing professionals, providing us with powerful tools to weave compelling stories. We've discovered that fostering a curious mindset, coupled with courage and a commitment to authenticity allows us to actively participate in shaping the future of digital marketing. Here's to a year that not only pushed boundaries but also ignited creativity.”

Kanchi Patel, Co-founder, Abzo Motors:

“The EV industry has experienced substantial growth in the last few years, and 2023 has been no exception. In the first half of this year, EV sales reached 5.1 million units, on track to surpass 10 million units for the full year. Witnessing the surge in electric vehicle adoption has been an enriching experience, reaffirming the industry's shift towards a cleaner and greener future. Several major automakers are investing in the Indian EV market, including Tata Motors, Hyundai, and Mahindra & Mahindra. In turn, the enthusiasm and acceptance from consumers have been overwhelming, highlighting the growing awareness and appetite for eco-friendly mobility options.

This year has proven to be a significant milestone for us as we proudly launched our first e-bike, a testament to our commitment to sustainable and innovative transportation solutions As co-founder of Abzo Motors, navigating through the dynamic landscape of 2023 has been both challenging and rewarding, and we look forward to continuing our contribution to the evolution of the EV industry, paving the way for a more sustainable and electrifying future.”

Max Avtukhov, CEO and Co-Founder, Yango Tech:

“The e-grocery and retail market in India is undergoing unprecedented growth, fueled by increased internet penetration and evolving consumer behaviour that favours online shopping. This shift, coupled with the convenience factor, has spurred the convergence of technology and consumer demands. Personalized recommendations and enhanced last-mile delivery are key outcomes, fostering a dynamic and flourishing environment. Projections indicate that the India Online Grocery Market is poised to reach USD 130 billion by 2032, exhibiting a remarkable CAGR of 37%. Despite facing challenges in logistics, quality assurance, and competitiveness, the e-grocery and retail sector in India continues to thrive, fundamentally reshaping how Indians procure their daily essentials. The trends observed in 2023 affirm this trajectory. At Yango Tech, our commitment is unwavering. We are dedicated to empowering retailers and e-commerce platforms with cutting-edge technologies, enabling them to navigate the evolving landscape of customer behaviour and seize a significant share of this burgeoning market.”

Pushkar Gokhale, Senior Vice President & Business head, Godrej Security Solutions:

“Embarking on the dynamic landscape of security solutions in 2023, Godrej Security Solutions has demonstrated exceptional performance, driven by innovation and a commitment to evolving security needs. Projections by a recent market report indicate that India's Electronic Security Market, specially CCTV and VDP will soar to Rs 10,000 crore by 2027.

We have been dedicated to continuously innovate and have been instrumental in launching products like SmartFog, Gold testing machine, solar CCTV cameras and advanced number plate recognition systems in electronic security segment. In the Home locker segment, we have introduced products like our NX Pro Advanced and NX Pro Plus range which has multiple locking mechanism of digital, keylock and biometric. In 2023, we recorded Rs 820 crore in revenue, with a notable contribution from both B2B & B2C segments, wherein B2B contributed 60% and B2C contributed 40%.

Fact of people moving more and more towards sophisticated tech and innovative solutions affirms our adaptability to diverse security challenges, coupled with AI-driven technologies, positioning us as a key player in shaping the future of security solutions. Looking to 2024, Godrej Security Solutions is poised for continued success. Aligned with Godrej & Boyce's growth plan, we aim for a 20% Y-o-Y growth, anticipating 20% growth by the end of fiscal 2023-24. We are further looking to solidify our role as a key contributor to the ever-evolving security solutions landscape.”

Hayden Scott, Creative Head - APAC, Virtue Worldwide:

“2023 has been a very good year for us. This year in response to the uncertainty surrounding the sale of our parent company we chose to double down on culture and focus on our people – their happiness, fulfilment and growth. We continue to work remotely and allow our people flexibility and freedom. In addition, we have stabilised key accounts, beefed up the creative leadership with some exciting talent and created fame and money for our clients with every single piece we have put out.”

Anand Kumar, Head - Strategy & Product, Uno Minda:

“In the dynamic landscape of the spare parts aftermarket industry, Uno Minda is gearing up for a groundbreaking 2024. The company is steadfast in its commitment to launch Innovative products through In-house R&D and Engineering facilities. The company is already ready to supply BIS certified Alloy wheels in line with mandatory BIS guidelines to ensure safety. In anticipation of the growing adoption of electric vehicles (EVs), Uno Minda has strategically acquired two German companies - Friwo & Buehler - and already established in-house manufacturing of EV components such as On-board & Off-board chargers, BMS, MCU, sensors, controllers etc. The company is fully geared to supply spare parts for electric vehicles, catering to the evolving needs of the EV Aftermarket. As we usher in a new era, Uno Minda, under its “Driving the New Technology” initiative, has already launched high-end technology products like LEDs, ORVM, ADAS, and personalized telematics, to meet for an uptick in demand for such hi-tech products & BS6 vehicle parts.”

Cristina Fonseca, Head of AI, Zendesk:

“More and more companies will trust AI to fully automate resolutions in the CX context. With the latest advancements in AI and large language models (LLMs), there will be seamless blending between bots and human agents. Additionally, we expect the number of interactions touched by AI to be at least 10x higher compared to 2023 – moving the industry even closer towards this reality of fully digital agents.”

Arick Goomanovsky, VP, Tenable Cloud Security:

“Consolidation of cloud security products and vendors will accelerate throughout 2024 because of demand from customers, who now understand the power of cloud native security to transcend traditional silos and provide a unified, contextual risk picture. This means not only more secure applications, but better optimization of resources, skills and time, during a period when organizations are stretched to the limit.”

Krishna Veer Singh, Co-Founder, Lissun:

“This year has brought transformative changes to the mental health sector in India, marked by a notable increase in recognition and understanding of the importance of emotional and psychological well-being. We at LISSUN have been at the forefront of this movement, actively contributing to the evolving narrative on mental health. Backed by our dedicated team, we experienced significant achievements and breakthroughs. The noteworthy $1.3 million secured in seed funding speaks volumes about our brand’s promising trajectory. In addition, the launch of ‘Sunshine,’ a phygital center dedicated to child mental health, and our tech platform supporting students amid academic stress underscore our commitment to holistic care.

Besides that, our Emotional Wellness Camps particularly in Kota where the student suicide rate was at an all-time high, showcasing our dedication to community outreach. As we contemplate this exceptional year, our commitment is resolute—to expand our reach, particularly in remote regions, diversify treatment options, and strengthen partnerships for a comprehensive approach to mental health challenges.”